Terry Smith
Terry Smith is the UK's most prominent stock picker and is often called 'the British Warren Buffett.' After a distinguished career as a sell-side analyst and then CEO of Collins Stewart and Tullett Prebon, he founded Fundsmith in 2010 at age 57. The fund's simple three-part philosophy — buy good companies, don't overpay, do nothing — has resonated with hundreds of thousands of UK retail investors and made Fundsmith one of the largest equity funds in Europe by assets.
Smith is famous for his annual shareholder letters, which are candid, witty, and sharply critical of investment industry conventions he views as wasteful or misleading. He invests globally in high-quality consumer, healthcare, and technology companies with high returns on capital and genuine pricing power. He lives in Mauritius and has been openly critical of UK tax policy. His fund's long-term track record consistently places it among the top-performing large-cap equity funds globally.
Buy good companies. Don't overpay. Do nothing. It sounds simple because it is. The enemy of a good investment plan is the urge to do something.
— Terry Smith, Fundsmith